Intelsat (AIB Member)is to be acquired by a consortium of private investors – valued at approximately $5 billion.Intelsat will be amalgamated under Bermuda law with Zeus Holdings Limited – a company formed by a consortium of funds advised by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira. At closing, Zeus will be acquiring Intelsat, and Intelsat’s current shareholders generally will be entitled to receive $18.75 for each Intelsat share issued and outstanding immediately prior to closing.
Conny Kullman – CEO said, “this transaction comes at a time when Intelsat is successfully executing on its strategies for market leadership in the fixed satellite services sector. We believe that the acquisition of Intelsat by this consortium of well-respected private equity investors represents the best opportunity for Intelsat to achieve its strategic goals.”